The Manufacturers Life Insurance Company Has $486,000 Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

The Manufacturers Life Insurance Company increased its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPGFree Report) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,647 shares of the asset manager’s stock after buying an additional 790 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Encore Capital Group were worth $486,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of Encore Capital Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock worth $214,000 after buying an additional 323 shares during the last quarter. Victory Capital Management Inc. raised its position in Encore Capital Group by 8.8% in the second quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock worth $208,000 after acquiring an additional 403 shares during the period. Inspire Investing LLC raised its position in Encore Capital Group by 9.8% in the second quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock worth $356,000 after acquiring an additional 759 shares during the period. Meeder Asset Management Inc. bought a new stake in Encore Capital Group in the second quarter worth about $33,000. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in Encore Capital Group by 5.4% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 15,652 shares of the asset manager’s stock worth $653,000 after acquiring an additional 796 shares during the period.

Encore Capital Group Stock Performance

NASDAQ ECPG opened at $46.44 on Thursday. The company’s 50 day moving average is $47.52 and its 200-day moving average is $45.26. The firm has a market cap of $1.10 billion, a P/E ratio of -5.41 and a beta of 1.55. Encore Capital Group, Inc. has a 12-month low of $34.74 and a 12-month high of $54.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50.

Encore Capital Group (NASDAQ:ECPGGet Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The company had revenue of $355.29 million during the quarter, compared to analysts’ expectations of $346.06 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. Encore Capital Group’s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that Encore Capital Group, Inc. will post 5.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price objective on shares of Encore Capital Group in a research report on Monday. Truist Financial lowered their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th.

Read Our Latest Research Report on ECPG

Encore Capital Group Company Profile

(Free Report)

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.

See Also

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Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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